Scottish Power to raise gas and electricity prices

Scottish Power is raising its gas and electricity prices by 5.5% for nearly one million of its customers. Scottish Power said the price change would apply to about one third of its customers, or 960,000 homes. Neil Clitheroe, chief executive of Scottish Power's retail division, said the increase in standard variable prices reflected "Rising wholesale energy costs and compulsory non-energy costs". Scottish Power is the third major energy firm to announce price increases this year. Earlier this month, EDF Energy said it was raising its electricity prices by 2.7%, days after British Gas raised prices for 4.1 million of its customers.